To begin with, the idea of YouTube was first thought up of in 2005 by Chad Hurley, Steve Chen, and Jawed Karim, who were all working for PayPal at the time. YouTube was founded to give everyone an opportunity to share videos worldwide and watch various types of videos. In May 2005, YouTube provided a beta version of their website, before officially inaugurating the site in November 2005. From there, YouTube became more and more popular and began attracting more visitors to their website daily.
YouTube became increasingly more reputable in October 2006, when Google bought the company for 1.65 billion dollars in stock, making the founders of YouTube millionaires. As the website progressed, advertising companies began to post advertisements on YouTube. Magazine companies, TV companies, and movie companies alike paid YouTube to post advertisements for their businesses, earning even more money for YouTube.
In 2008, YouTube won the Peabody Award, recognizing the website for excellence in broadcasting. Later on, in 2009, YouTube made the “best of” list in Entertainment Weekly, and was recognized for their excellence. Before long, YouTube began to attract billions of viewers per day and had even more video uploads daily.
Today, people from all over the world watch and upload videos on YouTube. In fact, approximately 60 hours of video are uploaded by YouTube users every day! People post a wide variety of videos on YouTube, including tutorials, music videos, comedies, parodies, movie trailers, and gaming videos. In fact, some people even get famous after posting a video on YouTube and attracting millions of viewers, which shows just how influential YouTube is. Over the years, YouTube's business has expanded enormously. In the 8 years since the website has been created, YouTube is already ranked the 3rd most popular website, after Google and Facebook.